1. Removing the Penny from Circulation in the United States
A Feasibility Study
Ben Perrell
Technical Writing 2013

2. Overview Introduction Methods Criteria Results Conclusions
Recommendations

3. Introduction
Researched the feasibility of removing the penny from circulation in the United States.
Took into account the popular vote
Do people want the penny removed?
The economical implications of what would happen if the penny was removed
Rounding tax
The penny costs more to make than how much it can be spent for.

4. Criteria Do people want the penny gone?
Will the economy benefit from the removal?
What are the negative outcomes?
Will the removal integrate well into society?

5. Methods
Researched already published articles pertaining to the subject.
Researched price of production
Researched economic implications
Surveyed fellow peers determining use of penny and desire of removal

6. The Cost of a Penny
Since 2006, the penny has cost more than one cent to produce.
As the price of copper and zinc go up, the cost of penny production will follow.

7. Use of the Penny
As store prices increase, the use of penny will become more insignificant.
Physical money (cash and coins) are becoming less used and less popular.
73% of those surveyed use pennies or other physical payments less than 50% of the time

8. Economic Implications
Less money spent on a wasteful resource
Rounding tax will be implemented on physical payments
Prices ending in (1,2,6,7) round down
Prices ending in (3,4,8,9) round up
Speculation that rounding tax will be progressive and affect those of lower incomes
Uncertainty

9. Economic Implications
More than $7 billion dollars are spent on the penny each year
Both time and resources will be saved.

10. Total household income

11. How often is physical payment used?

12. Would you like the penny removed?

13. Conclusions National popularity vote is still needed
Money would be saved by the U.S. Mint if the penny was removed
Feasibility is undetermined
Until there is solid evidence of what will really happen with rounding tax

14. Recommendations More research is needed.
Public opinion should be taken more into consideration.
Have a plan for how the money will be spent elsewhere.
Consider removing the nickel, it also costs more to produce.